Merchant Square, Belfast
Loan for redevelopment of vacant office building to Grade A accommodation.
NIIF funded one of the first speculative office schemes built in Belfast for a number of years. The NIIF loan was utilised alongside equity and mezzanine funding to redevelop three existing buildings to create a new, Grade A over 200,000 sq ft office building in the centre of Belfast.
Once substantially underway it was let to PwC who will use it to employ c.3,000 jobs in Belfast. Belfast is PwC’s recognised global centre for technology, digital advisory services and research and the availability of this BREEAM Excellent building enabled it to relocate within the City, retaining existing roles and creating new jobs.
The scheme was developed by Oakland NI. The loan has now been repaid in full.